BuySeasons HQ sells to Rubie’s Costume Co.

BuySeasons corporate headquarters in New Berlin

Last updated on May 15th, 2019 at 04:56 pm

The BuySeasons Inc. corporate headquarters and warehouse in New Berlin has sold to an affiliate of Rubie’s Costume Co. for $18.5 million, according to state records.

BuySeasons corporate headquarters in New Berlin

The sale is part of Rubie’s acquisition of BuySeasons, which closed on June 30 and was announced July 5.

The sale of the land and buildings was recorded on July 5. State records indicate BuySeasons Inc. bought the property from AGNL Costumes LLC for $31.25 million in a deal that was recorded July 3.

AGNL Costumes is an affiliate of New York-based investment firm Angelo Gordon & Co.

The nearly 35-acre property at 5915 S. Moorland Road has an assessed value of roughly $22.8 million. It includes a 470,000-square-foot warehouse used by the online costume retailer.

Other terms of the acquisition have not been disclosed.

In announcing the acquisition, Rubie’s executies said BuySeasons would allow the New York-based company to improve its fulfillment operations.

BuySeasons chief executive officer Rick Barton said the sale would allow BuySeasons to increase its product offerings and enhance worldwide sourcing.

The company has sought to diversify its offerings in recent years amid increased competition from brick-and-mortar and online retailers. Revenue has fallen from $83 million in 2014 to $73 million in 2015 and $52 million last year.

BizTimes reported on the potential sale of BuySeasons the day before the sale closed after a former company vice president sued over the use of software she had developed before she was hired.

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Arthur covers banking and finance and the economy at BizTimes while also leading special projects as an associate editor. He also spent five years covering manufacturing at BizTimes. He previously was managing editor at The Waukesha Freeman. He is a graduate of Carroll University and did graduate coursework at Marquette. A native of southeastern Wisconsin, he is also a nationally certified gymnastics judge and enjoys golf on the weekends.

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